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Cocoa And Chocolate Market size was valued at USD 46.61 billion in 2019 and is poised to grow from USD 48.29 billion in 2023 to USD 67.88 billion by 2031, growing at a CAGR of 4.98% in the forecast period (2024-2031).

The Cocoa and Chocolate market is consolidated. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies in order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Mars, Incorporated', 'Barry Callebaut', 'Nestle S.A.', 'Mondelez International, Inc.', 'Ferrero Group', 'The Hershey Company', 'Lindt & Sprüngli AG', 'Meiji Holdings Co., Ltd.', 'Ghirardelli Chocolate Company', 'Valrhona', 'Blommer Chocolate Company', 'Cargill, Incorporated', 'Guittard Chocolate Company', 'Puratos Group', 'Olam International Limited', 'Touton S.A.', 'Petra Foods Limited', 'TCHO Ventures, Inc.', 'Felchlin Switzerland', 'Fuji Oil Group'

The market for cocoa and chocolate is expanding as consumers become more aware of the health benefits of consuming foods that have a high cocoa content. In addition to providing the human body with various health advantages, cocoa helps to lower blood pressure and treat chronic fatigue syndrome. Additionally, cocoa includes polyphenols, which shields the body's tissues against oxidative stress and its associated conditions including cancer and inflammation.

Theobromine, which is present in cocoa powder, aids in the reduction of inflammation and offers protection from life-threatening illnesses. The calories obtained from cocoa powder are high in useful substances since cocoa has a high concentration of phytonutrients and is low in fat and sugar. Because they are created from agitated, dry, unroasted cacao beans, raw goods are frequently less processed and healthier. However, dark chocolate with at least 70% cacao is a good source of minerals and antioxidants, opening up a sizable market.

Europe is the largest regional market since it has been a major importer of cocoa paste for the past several years. Grinding capacity has grown faster in Africa, Asia pacific, than in the Americas. Africa's grindings climbed from 463 thousand metric tonnes in 2003 to around 1001 thousand metric tonnes in 2021. Grinding in Asia pacific increased from 575 thousand metric tonnes in 2003 to 1170 thousand metric tonnes in 2022. Cocoa output has increased higher in Africa and the Americas, while it has dropped in Asia pacific. Africa's production climbed from 2445 thousand metric tonnes in 2003 to 3995 thousand metric tonnes in 2022. In addition, cocoa production in the Americas climbed from 462 thousand metric tonnes in 2003 to 910 thousand metric tonnes in 2022.

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Global Cocoa and Chocolate Market

Product ID: SQMIG30B2030